This is a one-way upgrade. Once a user has upgraded to v2 and received a new v2 wallet, they will lose access to their v1 embedded wallet. We recommend that you prompt the users to confirm they do not have any funds in their wallet before making this switch.
(Optional) enable creating wallets for external wallet login, this ensures a seamless upgrade for users with both v1 embedded wallets and third-party wallets like MetaMask. Without this option enabled, v2 wallets will not be created for these users.